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Berkadia Arranges Sale of Oakland Multifamily to Rooted Program
Berkadia arranged the $12.6-million sale of Idora Apartments, a 33-unit, Class A multifamily community built in 2017 with ground-floor retail located at 5239 Claremont Ave. in the Temescal neighborhood of Oakland. The sale equated to $380,000 per unit.
Senior managing director Jason Parr, director John Hansen and managing director Scott MacDonald of Berkadia San Francisco arranged the transaction on behalf of the seller, San Francisco-based St. Regis Properties.
The property was acquired by the Oakland Fund for Public Innovation, with its Rooted program leading efforts to provide equitable housing solutions for educators. Financing was provided through the San Francisco Housing Accelerator Fund. ArtHaus Partners, a Bay Area-based vertically integrated multifamily developer and operator, worked as a consultant to the Oakland Fund for Public Innovation throughout the acquisition.
Idora is directly adjacent to a Whole Foods supermarket, and walkable to more than 100 restaurants, bars and retail offerings, according to Berkadia.
- ◦Sale/Acquisition
